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Search Results 0 to 27 of about 28 (some duplicates have been removed)
for a narrow definition of what it means for the government to default. skipping payments on government bonds would be a default they say. but skipping payments for other government services wouldn't be. this debate could have real consequences, as darren gersh explains. >> reporter: next month, the u.s. government will owe $38 billion in interest payments on the debt it's sold to investors here and overseas. but the u.s. government will take in about $210 billion in tax revenues in february. a vocal minority in washington now argues those figures show it is possible for the u.s. government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the
to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on word demand for the iphone 5 is slipping. the stock closed just shy of $502, losing almost 4%. in pre-market trading the shares briefly fell below $500, the first time in nearly a year. suzanne pratt reports. >> reporter: apple has been taking a big bruising. first, it was the earnings miss for the september quarter, the second straight. then, there's been growing speculation the tech innovator is losing its edge to competitors, particularly samsung with its popular galaxy smartphone. finally, today there were reports apple dramatically cut orders for iphone 5 components, due to weak demand. to be sure, apple has not confirmed soft sales with hard numbers. but, experts it would not surprise them if consumers were sour on iphone 5. >> it may be significant, we just came through the consumer electronics show and virtually
ratings for corporate debt issues. >> tom: it really focuses on the firm's ability to rate government securities and government asset back securities. we spoke with sean egan when the s.e.c. first levied these charges last april. the agency, sean, isn't calling into question your ratings. instead, it's talking about your application itself. what about the information on that application? >> that is the issue, and, according to the s.e.c., we think it's a paperwork issue that we... i was responsible for filling out that form. i filled it out in accordance with our lawyers' guidance. they said, "fill it out as honestly and accurately as possible," and i did. if i had to fill it out again today, i would do exactly the same thing. >> susie: it will be interesting if he really thinks that today in january. unfortunately, egan was not available for comment tonight. >> tom: we have an invitation to him, however, on this first trading day on this shortened trading day. stocks began the shortened trading week by adding to recent gains. the s&p 500 didn't manage to pull itself into positive ter
in treasuries and other government guaranteed securities. now historically that's been a pretty safe group of money market funds. the group of money market funds where the issues have been are called prime funds because they invest in commercial paper of various sorts of companies. >> sure. >> and so i think that we shouldn't take a broad-brush approach. we should really focus on those commercial paper or prime money market funds opinions and what are you referring to is the regulatory review of money markets trying to address some concerns that were brought up when a big prime fund broke the buck. that net asset value which traditionally has been a dollar per share for money market funds went below testimony and the regulators have said do we want a floating fund? >> right. and the regulators have proposed a number of different potential requirements. they've been very controversial am but i think the most important one is the one that you just mentioned. that instead of having a constant dollar net asset value, it would fluctuation with the market every day. now it probably wouldn't fluc
or representatives debated relief from superstorm sandy today. ergy analyst kevibook expects governments will increasingly be forced to spend money to mitigate or adapt to climate change. >> with every storm, with every flood, we're getting closer and closer to talking about how he handle climate change rather than how we stop it. >> reporter: pressure to address climate change may also come from outside the united states. the european union is threatening to slap trade the u.s. refuses to buy credits to offset greenhouse gas emissions from transatlantic flights. even china may help force the u.s. to act. beijing is under pressure to clear the air as pollution makes it harder and harder to breath. >> coal pollution, including greenhouse gas emissions, is something they have got to get down in their country if they're going to live there. as the largest emitter, the bogey man to which all western nation's point, begins to clean up its game, it's going to make it harder to say no. >> reporter: and progressives are hoping the president will bypass congress and use his regulatory authority u
it and other banks reached last week with the government over illegal foreclosure practices. results at bank of america were also weighed down by that deal. but an even bigger hit to of b. of a.'s earnings came from a settlement with fannie mae to end a dispute over bad home loans. the bank earned 3 cents a share in the period, a big drop from the 15 cents earned in the same period last year. c.e.o. brian moynihan tried to put a positive spin on today's results. >> our strategies continue to work, were seeing growth across all the core businesses. were seeing that momentum continue to accelerate. >> reporter: but for today, at least investors weren't convinced. erika miller, "n.b.r.," new york. >> susie: our next guest says citi and bank of america investors have to be prepared for a few more bumpy quarters. nancy bush is banking analyst at s.n.l. financial. so nancy when are all of these mortgage problem goesing to go away. here we are in 2013 and we're still hearing from these banks will problems with mortgages and settlements and chargeoffs. you know, how many more year does we have to go
. if the federal government increases the money supply faster than productivity you're going to see inflation. and that's what we're seeing in food right now because the fed's been increasing the money supply greatly. >> tom: john, let me ask you about the investor class as a stakeholder. whole foods stock is up 16% year over year. is the stock price the clearest expressionave company value? >> maybe not always in the short term. i think as ben graham once said, in the short term the stock market is aoting machine. but in the long run, it's a weighing machine. so i do think sometimes stock prices get out of whack from the intrinsic value of a company. but it tend to correct itself. so it can swing wildly in one direction or the other but it will correct itself. so i don't know-- it's certainly an important indicator. i don't know if it's the best indicator. but you need to pay attention to it if you're a public company. >> tom: you certainly do, as you do, certainly, as want co-c.e.o. of whole foods. john mackey, the coauthor of "conscious capitalism." >> susie: president obama will take the
together between business and government and, you know, i'm optimistic that we'll sort it out but, boy, it sure looks ugly right now. >> susie: for more on michaelportier's research and articles go to nbr.com and check out our partnership with some of the nation's top business schools like harvard. >> tom: while beer wasn't invented in america, u.s. brewers are thinking small to make it big. small craft brewers are claiming a bigger stake of the industry's annual $300 billion in sales. mike hegedus takes us to one small regional brewer on the verge of going national. >> reporter: it is the face of success illuminated by a welders' torch, a german- engineered expansion assembled with bavarian precision. a $10 million project to increase production of-- roll out the barrels, baby, it's beer! this is the lagunitas brewing company operation in petaluma, california, on the edge of bucolic sonoma county pasture land. lagunitas, with 150 employees, is in the sweet spot of the u.s. beer industry. sales by small, regional craft brewers making up for sagging national brand sales. >> it's about p
Search Results 0 to 27 of about 28 (some duplicates have been removed)